VA Jumbo Loan Question

[Gladius]

Hmmm..ok. We are actually waiting on the specifics from our "potential" lender on what our options are. But he did mention the jumbo loan without much detail but will give us a few GFEs on VA, VA jumbo, Texas Vet, and conventional on a $400-450 loan.

[merc64]

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@Gladius wrote:

I have a question for the experts here.  Really just a confirmation on if this info is correct or not.  If we want to use a VA jumbo loan on a $430K purchase, is it true that we only have to pay a down payment of 25% of the difference between the VA max of $417K and $430K ($13K)?  Which would be $3250.  Thanks in advance.

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According to all the literature I've read you are correct about the 25% down for jumbo loan (VA  specific). However, different lenders may have different requirements so the 25% rule will be relative to your situation. I looked into this when looking at houses but it didn't have to go this route due to final price of home. 

[Gladius]

Thank you merc64.